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Helping Clients Navigate COVID-19 (Updating)

Kleinberg Kaplan is working closely with our clients to provide counsel and guidance during these unprecedented times. A selection of our recent thought leadership pieces related to the implications of COVID-19 includes: Corporate Considerations  Treasury Releases PPP Loan Forgiveness Application (May 18, 2020): The Treasury has rolled out a loan forgiveness application for the SBA’s…

Client Alerts | May 21, 2020 | Business Restructuring and Reorganization | Creditors’ Rights and Bankruptcy Litigation | Derivatives | Distressed Real Estate Assets | Employment Litigation | Estate Planning and Administration | Hedge Funds | Investment Management | Investor Activism | Leasing | Mergers & Acquisitions | Nonprofit and Tax-Exempt Organizations | Private Equity Funds | Securities and Corporate Finance | Special Situations and Credit

Unexpected Tax Consequences of Commercial Lease Modifications

In a prior Kleinberg Kaplan client alert, we noted that COVID-19 related economic disruptions have caused both landlords and tenants to consider restructuring their commercial lease arrangements. Tenants that enter into discussions with landlords seeking rent relief may be successful. However, landlords and tenants should be aware that they could run into unexpected tax consequences in…

Client Alerts | April 30, 2020 | Business Advice and Planning | Leasing

Kleinberg Kaplan Partner Ross Yustein Quoted in The Wall Street Journal

Kleinberg Kaplan’s Ross Yustein, Chair of the Real Estate Department, was quoted in a Wall Street Journal article: “Retail Tenants, Landlords Clash Over Proposed Pandemic Rent Clauses.” In the article, Ross shares his thoughts on the new provisions some retail tenants are requesting as they look to cancel lease payments during the pandemic. He previously…

Firm News | April 28, 2020 | Leasing

Landlords and Tenants Restructure Rent Obligations in Response to COVID-19

Stay-home requirements in response to COVID-19 have left most commercial tenants unable to use their spaces, which more often than not has resulted in significantly reduced (or eliminated) income. Similarly, many landlords are facing reduced rent rolls with vacant space that cannot be filled, while certain operating expenses, taxes and debt service obligations still must…

Client Alerts | April 22, 2020 | Leasing